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On November 30th 2023 James Lee an alumnus of Kelly school a private not for profit high school contributed $15000 with the stipulation that the

On November 30th 2023 James Lee an alumnus of Kelly school a private not for profit high school contributed $15000 with the stipulation that the donation be used for faculty travel expenses during 2024. during 2024 Kelly spent All of the donation in accordance with mister lee's wishes for the year ended December 31st 2024, what was the effect of the donation on net assets without donor restrictions and net assets with donor restrictions? net assets without donor restrictions no effect net assets with donor restrictions No effect

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